Meticulous Research® – leading global market research company published a research report titled “Biopharmaceutical Processing Equipment and Consumables Market by Product (Filtration, Chromatography, Columns, Bioreactor, Cell Culture, Service), Application (Commercial, Research), and End User (Pharmaceutical, biotechnology, CDMO)- Global Forecast to 2023”.
According to this latest publication from Meticulous Research®, the global Biopharmaceutical Processing Equipment and Consumables market is expected to grow at a CAGR of 14.8% from 2018 to 2023 to reach USD 22.3 billion by 2023, driven by factors such as growing demand for biopharmaceuticals, rising adoption of single-use bioprocessing equipment and consumables, and increase in the support from government for biopharmaceutical research. Moreover, factors such as emerging Asia-Pacific & Latin American biopharmaceutical market, expected surge in biosimilar production in the U.S., and growing focus on personalized medicine are likely to offer new revenue pockets.
Browse in-depth Report on: https://www.meticulousresearch.com/product/biopharmaceutical-processing-equipment-consumables-market/
The global Biopharmaceutical Processing Equipment and Consumables market study presents historical market data in terms of value (2016 and 2017), estimated current data (2018), and forecasts for 2023 – by product (filtration system, chromatography systems, bioreactors, cell culture market, mixing systems, bioprocessing containers, sterilizers, centrifuges, incubators, shakers, biosafety cabinets, other consumables & accessories, and services), application (commercial bioproduction, research bioproduction), and end user (pharmaceutical and biotechnology companies, academic and research institutes, contract development and manufacturing organizations). The study also evaluates industry competitors and analyzes the market at regional and country level.
The filtration and chromatography are the major processes contributing significantly in the overall operational cost. The filtration systems are being widely consumed for clarification and purification of liquids throughout the production process and command the largest share of the market.
Based on application, commercial bioproduction commanded the largest market share in 2017. This segment is also expected to witness the fastest growth attributed to growing demand for biopharmaceuticals and on-going as well as future capacity expansions from various biopharmaceutical manufacturers.
Pharmaceutical and biotechnology companies held a significant market share in 2017. On the other hand, contract development and manufacturing organizations are expected to be in spotlight during the forecast period.
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (Germany, U.K., France, Italy, Spain, and RoE), Asia-Pacific (Japan,China, India, and RoAPAC), Latin America, and the Middle East & Africa. North America captured a significant share in 2017, while Asia Pacific is expected to register highest CAGR during the forecast period. The high growth in the forecast period will be due to developing economies, expansion of key players in the region, growing geriatric population with chronic diseases, and favorable regulatory reforms in this region.
The global Biopharmaceutical Processing Equipment and Consumables market is consolidated with top 5 players commanding major share. Key players operating in the global bioprocessing equipment and consumables market include GE Healthcare (U.S.), Merck Group (Germany),Thermo Fisher Scientific, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), 3M Company (U.S.), Repligen Corporation (U.S.),Danaher Corporation(U.S.), Agilent Technologies, Inc. (U.S.), Sartorius AG (Germany), and Eppendorf AG(Germany) among others. In the recent years, these companies have significantly focused on new product launches, agreements, partnerships, and collaborations to expand their product and service offerings, strengthen their global footprint, and augment their market shares. For instance, in November 2017, Merck KGaA (Germany) formed a strategic alliance with Samsung BioLogics (South Korea) for biopharmaceutical manufacturing and biologics process development. Moreover, in February 2017, Thermo Fisher Scientific, Inc. acquired Finesse Solutions, Inc. (U.S.), within its Life Sciences Solutions business segment to expand its bioproduction offerings.
Key questions answered in the report-
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